EURAUD - Downward trend will continue, Short trade by market price recommended

September 15, 2020 9:29:58 AM by Alexander Zorevyk
Forecast Details
PairEURAUD
Direction Sell
StatusClosed (1.618)
9:27
9:27
Sep. 15, 2020

-105 p
1.6340
Stop Loss
1.6235
Entry
+85 p
1.6150
Target 1
+105 p
1.6130
Target 2
Chart & Analyst Comments
EURAUD - Downward trend will continue, Short trade by market price recommended

For today's forecast, we recommend a Sell Order at this recommended market price - 1.6235. This idea is based on the following analysis:

  1. According to the most brokers’ data, more than half of the traders are currently in long positions on EURAUD. As a result, we recommend considering only Short trades at this time.
  2. In this sideways movement, retail traders prefer to hold long trades. There seem to be a major player interest in an downward movement.
  3. Stop loss should be taken out of the buyers cluster. If the price passes it, it will likely go on.